Did the Supreme Court ruling that Trump's tariffs are illegal turn out to be bullish or bearish? I wrote before that in the short term, it might cause market turbulence, especially since it's not good news for the Republican midterm elections, which could further intensify market volatility. In the medium to long term, it's considered bullish. After all, Trump can no longer use tariffs as a scare tactic, and the Fed doesn't have to worry about the impact of tariffs on inflation. But now we need to figure out how to handle the tariffs that have already been collected.